What is Airdrop in Blockchain Technology and How is it Done?

Blockchain technology offers many innovative features that accelerate the transformation of cryptocurrencies and other digital assets. One of these features is "airdrop". Airdrop is one of the methods of distributing cryptocurrencies or tokens and has become quite popular. In this article, I will explain what airdrop is and how it is carried out within blockchain technology. So let's get started.

What is Airdrop?

Airdrop is actually a marketing strategy. Essentially, decentralized applications reward their loyal users with a certain percentage of the tokens they issue (provided they meet certain criteria). In this way, they can promote themselves in a rational way. At the same time, they also satisfy their customers. Win win. Airdrop, when implemented by project developers or communities, promotes their cryptocurrencies and helps them build a community.

How to Airdrop?

Airdrop is generally carried out using two basic methods:

1. Snapshot Airdrop: In this method, a “snapshot” is taken at a specific block height or date of an existing blockchain. In this snapshot, the cryptocurrencies or tokens you own at that time are recorded. New tokens are then distributed at a certain rate to the holders registered in this snapshot. For example, every person who owns 10 Bitcoins can buy a new token in the amount they own at the time of the snapshot.

2. Transaction Based Airdrop: In this method, users need to complete a specific task. For example, you are given tasks such as joining the Telegram community of a particular project, promoting the project on social media (e.g. preparing a flood), or completing a specific task. Users who complete the task receive new tokens as rewards. The airdrop process can be carried out in different ways depending on the amount of cryptocurrencies or tokens to be distributed, their purpose and the requirements of the project. Additionally, during the airdrop, it is clearly announced which cryptocurrencies or tokens will be distributed and to whom they will be distributed. Importance and Advantages of Airdrop Airdrop offers a number of advantages for both cryptocurrency projects and users.